Explanation:
The Journal entry is given below:-
1 January 2020 No Entry
31 December 2020 Compensation Expense Dr, 6,580
To, Paid-In-Capital 6,580
(Being the compensation expense stock-option plan is recorded)
Working Note:-
Compensation Expense
= $7 × 4,700 ÷ 5
= $7 × 940
= $6,580
Answer:
yes I do believe it is ethically and morally wrong to pay bribes
Answer:
Feline Watch Company should budget $15,000 overhead costs.
Explanation:
5 labor hours per unit of watch at $7 per labor hour
Variable Overheads $4 per labor hour
Total Variable overheads for 500 watches
$4 per labor hour * 5 labor hours per watch * 500 watches = $10,000
Fixed Overhead = $5,000
Total Overhead = $15,000
Answer:
25.55 days
Explanation:
first we must calculate the accounts receivable turnover ratio = net sales / average accounts receivable
net sales = $1,000,000
average accounts receivable ($80,000 + $60,000) / 2 = $70,000
accounts receivable turnover ratio = $1,000,000 / $70,000 = 14.286
average collection period = 365 days / accounts receivable turnover ratio = 365 / 14.286 = 25.55 days
In overall utilization ratio it takes all the credit limits and all the credit cards. For example, all the credit limits are $1000 + $750 = $1750. and the cards is $415 + $215 = $630.
To calculate for the credit utilization ratio we divide by the total credit limits on all cards then we multiply by 100. For example,
The first and second credit cards is $415 + $215 = $630.
The first and second limits is $1000 + $750 = $1750.
To get the percentage of the overall utilization ratio we get,
$630 / $ 1750 × 100 = 36%.
